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APA (NASDAQ:APA) Reaches New 12-Month Low on Analyst Downgrade

APA logo with Oils/Energy background

APA Co. (NASDAQ:APA - Get Free Report) shares hit a new 52-week low during mid-day trading on Tuesday after Piper Sandler lowered their price target on the stock from $26.00 to $23.00. Piper Sandler currently has a neutral rating on the stock. APA traded as low as $20.58 and last traded at $20.69, with a volume of 2536462 shares changing hands. The stock had previously closed at $21.94.

A number of other analysts also recently issued reports on the stock. Royal Bank of Canada dropped their price objective on shares of APA from $34.00 to $32.00 and set a "sector perform" rating for the company in a report on Monday, November 11th. Wells Fargo & Company cut APA from an "overweight" rating to an "equal weight" rating and cut their price objective for the stock from $42.00 to $25.00 in a report on Tuesday. Barclays decreased their price objective on APA from $30.00 to $27.00 and set an "equal weight" rating on the stock in a report on Friday, November 8th. Bernstein Bank cut their target price on APA from $30.00 to $28.00 in a research note on Friday, October 18th. Finally, The Goldman Sachs Group decreased their price target on shares of APA from $26.00 to $25.00 in a research note on Friday, October 18th. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, APA currently has a consensus rating of "Hold" and a consensus price target of $31.14.

Read Our Latest Report on APA

Insider Buying and Selling

In related news, Director Juliet S. Ellis purchased 4,391 shares of APA stock in a transaction that occurred on Thursday, December 12th. The shares were bought at an average price of $22.78 per share, for a total transaction of $100,026.98. Following the completion of the transaction, the director now directly owns 12,436 shares of the company's stock, valued at $283,292.08. This represents a 54.58 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.30% of the stock is currently owned by insiders.

Institutional Trading of APA

Several large investors have recently bought and sold shares of APA. Woodstock Corp grew its position in shares of APA by 20.3% in the 3rd quarter. Woodstock Corp now owns 308,253 shares of the company's stock worth $7,540,000 after buying an additional 51,993 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in APA by 4.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 11,991,513 shares of the company's stock worth $293,312,000 after acquiring an additional 485,291 shares in the last quarter. HITE Hedge Asset Management LLC bought a new stake in APA during the third quarter worth about $7,238,000. Ellis Investment Partners LLC purchased a new stake in APA in the second quarter worth about $2,499,000. Finally, Victory Capital Management Inc. increased its stake in shares of APA by 13.5% during the third quarter. Victory Capital Management Inc. now owns 1,261,324 shares of the company's stock valued at $30,852,000 after purchasing an additional 149,762 shares in the last quarter. 83.01% of the stock is owned by institutional investors.

APA Stock Down 4.1 %

The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $7.79 billion, a PE ratio of 2.91 and a beta of 3.18. The company's fifty day moving average price is $23.41 and its 200-day moving average price is $26.51.

APA Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, February 21st. Stockholders of record on Wednesday, January 22nd will be paid a $0.25 dividend. The ex-dividend date is Wednesday, January 22nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.75%. APA's dividend payout ratio is currently 14.12%.

About APA

(Get Free Report)

APA Corporation, an independent energy company, explores for, develops, and produces natural gas, crude oil, and natural gas liquids. It has oil and gas operations in the United States, Egypt, and North Sea. The company also has exploration and appraisal activities in Suriname, as well as holds interests in projects located in Uruguay and internationally.

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